CFO reported that with commercial and industrial lending up by 11% in 2012 and nearly 13% in January, according to the Federal Reserve, some U.S. firms have added so much debt that they have less margin for error if their earnings decline or if interest on floating-rate debt starts to rise.

CFO noted that more than 350 U.S. firms now have a thinner earnings cushion to cover the debt on their balance sheets.

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